CandleFocus Ethereum Bulls Set Sights on $3K: Is a Rally Coming?
2024-10-16
Author: Content Editor
The price of Ethereum has experienced a fresh increase and is gaining momentum, surpassing resistance levels at $2,550, $2,600, and $2,620. However, there was a slight downward correction, with the price testing the $2,540 zone before rising again. Currently, Ethereum is trading above $2,600 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support near $2,535. The next major resistance is at $2,650, and if the price clears this level, it could rise towards $2,680 and potentially even $2,880. On the downside, initial support is at $2,600, followed by $2,535. Failure to clear the $2,650 resistance may lead to another decline, with support levels at $2,500, $2,450, and $2,400.
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